Inner Mongolia Yuan Xing Energy Company (000683) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥13.26 billion, up 10.13% year-over-year; net profit attributable to shareholders rose 28.46% to ¥1.81 billion.

• Operating cash flow increased 43.5% to ¥4.51 billion; basic EPS was ¥0.49, up from ¥0.39.

• Main products: soda ash, baking soda, and urea; soda ash and baking soda production and sales ranked among industry leaders.

• Faced industry-wide price declines and margin pressure, but offset by new capacity ramp-up and operational improvements.

Financial highlights

• Revenue: ¥13.26 billion (+10.13% YoY); net profit: ¥1.81 billion (+28.46% YoY).

• Net profit after non-recurring items: ¥2.07 billion (down 14.17% YoY).

• Operating cash flow: ¥4.51 billion (+43.5% YoY); total assets: ¥35.88 billion (+5.23%).

• Gross margin for soda ash: 48.18%; for urea: 19.86%.

• Dividend: proposed cash dividend of ¥3 per 10 shares, total payout ¥1.12 billion.

Outlook and guidance

• 2025 focus: high-quality growth, full value chain in soda ash and nitrogen fertilizer, and green transformation.

• Plans to expand capacity, improve product quality, and develop new value-added products.

• Industry expects continued supply growth in soda ash and urea, with demand growth but at a slower pace.